Topic: What happens to your tokens when you're gone one day? - page 6. (Read 848 times)
I never really thought about it.Unfortunately I don't have millions in my wallet, I probably need to tell the access code to someone from my family,someone I trust.Give them a gift.
Yes, this is our risk when we are gone or dead. I personally will save my data on my laptop. And maybe one day my brother or child, I teach about Crypto. So if I'm not there, they can run it.
You’ve got a good point. Maybe as time comes where crypto will be globally accepted then there will be KYC implementation of all the assets inorder to be identified who is the owner and the project founder will just maybe convert and send the funds to the relatives knowing the surname of the token owner.
One of my relatives and one of my friends already understand everything and know how to use it. If necessary, when accessing my device, they can do whatever they need. I think this is the surest way to preserve your assets just in any case, of course, if you have trust.
Maybe everyone will have a different opinion. And for me, I certainly haven't thought about this because I'm sure it can still last a long time. A person's life and death must have been arranged and we would just run it. And for now, work optimally and generate profits from Crypto.
It is difficult to talk about life, but death is sometimes sudden.
Maybe everyone will have a different opinion. And for me, I certainly haven't thought about this because I'm sure it can still last a long time. A person's life and death must have been arranged and we would just run it. And for now, work optimally and generate profits from Crypto.
Honestly, I don't have crypto assets as people have. But, if someday I have a lot of crypto asset I will consider to put all of my assets on an offline wallet and I will save it the private key on flashdisk and keep it on my secret place in my room then I will tell my family where I hide it.
My family already know how crypto works so I don't need to worry with them if they want to convert it to flat money...
My family already know how crypto works so I don't need to worry with them if they want to convert it to flat money...
Security is needed but everything all has two side. Always should have backup plan and share your secret things to people that you belief the most
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Care to link the source ? or the whale you mention is the owner of QuadrigaCX. Right now I don't have any altcoins in my wallet except for Bitcoin if I have a lot of $$ invested I would leave a long instruction to my loved ones. To avoid the risk of one family member claiming everything you have to create a multi sig address.
Yes, I think he is talking about QuadrigaCX. It's sad but I found it doubtful because it's not possible to hold only by one person since it is an exchange. But who knows. Multisig can be and/or can not be a solution in some cases. Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
I have never thought about this, and my property is not too much and if I have any problems. Maybe all my altcoin will come with me and no one will be able to access it. I also did not intend to share the private key for anyone in the family or friends because it could be exposed to the outside
One of the best ways to securely pass on your hard earned money after your death one day is to split your private keys into three or more and share it to different people who have no communication link and have limited or no knowledge in cryptocurrency. After this, make a will which will call all parties in hold of the private keys to come together. From there, any cryptocurrency expert can withdraw the funds for the family or successor.
if in my opinion, I will make a copy of the wallet code and important note notes such as my crypto password into the hard drive specifically and give info to my wife or children. or one of the families that can be trusted and understood about the crypto world ..
There is a project that is focusing on stuffs just like this, one of them is VELIC, they are trying to build a vault where even if you lose your keys, your funds can still be recovered... And another is Safe Haven, it is about securing your crypto assets for the next generation using smart contract.
This is a problem that has been debated by Cryptocurrency Enthusiasts worldwide, the fact is that most of us cannot even trust a living relative with that kind of secret because they might steal from us while we are still alive.
Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
If you don't leave your private keys to a trusted person before you die, then your assets will be gone with you. And they will remain frozen forever, like many bitcoin in wallets with forgotten passwords.
There were some project 1-2 years ago working on heritage of crypto assets, but the main obstacle was serious trust point issues like when, how and so on to give your private keys.
In my family there are no problems with this, and everyone knows where they are and how to use cryptocurrency
This is the most important part in this question. The biggest problem is not leaving a paper with some keys in a will, but if the people who will receive that will and those keys will know what they have to do with them and if they will know how to avoid being hacked, phishing, or what they will need to do if they have to swap a token.
This is something I think about from time to time : a solution could be to register a video containing the basics of crytpo knowledge ( and btw it would be a long one) containing also several links to internet places where they could learn more about thie matter.
And in a separate way providing the private keys/passwords/ligin details and everything is needed to access the crypto but still not sure what form this second package should have.
But due to laziness I still haven't done anything in this direction
And in a separate way providing the private keys/passwords/ligin details and everything is needed to access the crypto but still not sure what form this second package should have.
But due to laziness I still haven't done anything in this direction
In my family there are no problems with this, and everyone knows where they are and how to use cryptocurrency, so I don’t worry about it!
Care to link the source ? or the whale you mention is the owner of QuadrigaCX. Right now I don't have any altcoins in my wallet except for Bitcoin if I have a lot of $$ invested I would leave a long instruction to my loved ones. To avoid the risk of one family member claiming everything you have to create a multi sig address.
Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
This is a point i really never look into before, but we do have platform like infinitus where your wallet will be pass down if inactive but the problem with this is that what if your kin are not crypto adopters and does not know how it works how can they receive your assets.
Just recently, a news showed how one crypto whale died with his cryptocurrencies worth millions of dollar. No member of the family had access to his private keys and other login details. Are you ready to face the same fate and leave your children or family without having access to your hard earned cryptocurrencies some day to come? Showing your wallet login details to them now can also be risky so what are some of the preparations you are making towards the retrieval of your money when you are gone for life one day?
This is a point i really never look into before, but we do have platform like infinitus where your wallet will be pass down if inactive but the problem with this is that what if your kin are not crypto adopters and does not know how it works how can they receive your assets.
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